"This trade agreement is a good step forward - and we hope both sides will remove more trade obstacles in the future so that free competition can happen in both markets."

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There have been protests in Taiwan against the pact with China

Growing concerns

But in recent weeks, opposition against the agreement has been getting stronger and louder.

It intensified after President Ma Ying-jeou tried to oust Legislative Speaker Wang Jin-pyng for reportedly not doing enough to get the deal ratified by the legislature.

We're afraid that with such a low threshold - China will make fake investmentsLin Chun-hsien, Democratic Progressive Party

In June, the legislature decided to review the agreement item-by-item. And if any of the provisions are rejected, the whole agreement will be annulled.

Under the agreement, China would be allowed to open hotels, travel agencies, joint venture hospitals, retail stores, hair salons and other businesses in Taiwan.

But industry officials say Chinese investors are unlikely to be in a rush to come in as the market here is small and already saturated.

There is a growing perception, though, prevailing in a segment of Taiwanese society that Taiwan may become too dependent on China.

The worry is that such deals could lead to an influx of Chinese money and people, which would ultimately threaten the democratic island's independence and way of life.

"Some of the provisions in the agreement exceed World Trade Organization levels," says Lin Chun-hsien, spokesman for the main opposition Democratic Progressive Party.

"For example, if a Chinese company invests $300,000 (£186,000) here, they can transfer three Chinese workers here, and these workers can live here for several years.

"We're afraid that with such a low threshold, China will make fake investments so it can bring more of their people here."

Political agenda?

In his recent National Day address to Taiwan's people, President Ma indicated it was important for the island to approve the agreement and sign more free trade agreements with other countries.

He said Taiwan was already falling behind countries like South Korea in trade earnings and competitiveness.

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Some have raised concerns over Mr Ma's policy of forging closer ties with China

Some suspect the president of being too close to China, though, and resent his administration for signing the trade deal without first consulting businesses that would be affected.

"President Ma Ying-jeou hasn't given any clear explanation of what kind of impact there will be on people and their livelihood," said a young protester out with thousands of others on 10 October for National Day.

"He's just trying to push through this agreement."

Local media have reported that both Beijing and President Ma are eager to see the deal approved.

For Mr Ma, the deal will not only provide a boost to Taiwan's economy, but also help take a further step towards achieving a key agenda of his presidency.

He wants to bring the two sides closer together, at least economically, and he wants to see lasting peace eventually cemented.

For Beijing, the goal is to also bring the two sides closer, but its ultimate aim is reunification.